It seems as though once authorities catch on to a common scam and begin warning the public about it, con artists quickly move on and develop a new one. That’s why we wanted to warn our readers of the latest con job that is circulating the phone lines.

If you receive a call regarding your Social Security number being “suspended”, hang up the phone immediately. This is always a scam, no matter what the person on the other end of the line is telling you. The Social Security Administration does not suspend Social Security numbers. This is not a situation that can even happen, so clearly these calls are not legitimate.

This scam is particularly tricky because the caller seems to be sincerely trying to protect you from a crime and claims to need more information from you in order to “protect” your information. But here’s what you need to know about such calls:

  • The Social Security Administration does not call people to notify them of potential problems. They send letters in the mail.
  • Con artists have developed computer systems that trick your caller ID into displaying “Social Security” or “US Government”. You can’t believe your Caller ID anymore, unfortunately.
  • Never give out your Social Security number over the phone, no matter what. Don’t even confirm the last four digits.
  • If anyone asks you for a payment, gift card, or money transfer over the phone is a scammer.

If you ever feel concerned about your Social Security status, you can call your local office and speak to a representative. As for identity theft in general, make sure to request a copy of your credit report once per year, review it carefully, and report any items that you don’t recognize.

Stay in touch with us for more financial planning tips and call us to schedule an appointment if you have any questions about your short- or long-term financial plans.